Port Authorities Management Regulations (SOR/99-101)

Regulations are current to 2012-05-14 and last amended on 2007-05-17. Previous Versions

PART 7

OFFENCES AND PENALTIES

70. A person who knowingly makes or assists in making a financial statement referred to in section 36 of the Act or paragraph 53(3)(a) or 65(h) of these Regulations is guilty of an offence if the financial statement

  • (a) contains an untrue statement of a material fact; or

  • (b) omits to state a material fact that is required or necessary in order to prevent a statement contained in the financial statement from being misleading in the light of the circumstances in which it was made.

71. A person referred to in section 70 is liable to a fine of not more than $5,000 in the case of an individual, and of not more than $50,000 in the case of a corporation.

COMING INTO FORCE

72. These Regulations come into force on March 1, 1999.